Opinion about XTrade

IMPORTANT: XTrade is restructuring its services and is not accepting new clients. IMPORTANT: For security reasons we cannot recommend this broker. However, in our domain you will find an entry with the best online brokers of 2021 to help you choose a portal that suits your needs while ensuring secure transactions and operations.

In this report we are going to answer the most common questions about the XTrade CFDs broker. At the moment, we can assure you that this broker it's not a scam , as it is registered with the Cyprus Securities and Exchange Commission also known as CySEC. But if you want to know in which other financial authorities it is registered, or what security measures it follows, we invite you to read this complete review.

We will also inform you about customer service, the mobile app and all the other aspects you need to know about a financial broker before opening an account. And if when you finish reading our full analysis you are still not convinced by this option, you can see the best CFD brokers in this link .

Our experience with XTrade

Our general opinion is that we are dealing with a legit broker, with a complete offer of CFDs in which to invest, which includes a large selection of indices and commodities. It offers a good customer service available in New Zealand and a training section where you can learn the basic principles of investing.

In the following section, we offer you the main reasons why in our opinion it is a safe company, without suspicions of fraud or scams. Do not forget to consult the regulations section either, as the perfect complement to make sure what legislation protects you in case you had a problem with them.

XTrade: Scam or legit?

Already in the introduction of the article we stated that we are not facing a scam. We said that the broker was registered in the CySEC with the number 248449 and the number of license 108/10 and this guarantees us that you must follow the regulations of the Dollarpea Union. The official name of the company XFR Financial Ltd and it is headquartered in Cyprus, at the address 140, Vasileos Konstantinou, Tofias Building 2, CY-3080 Limassol. It is a company with customers from more than 140 countries, which uses a system of segregated accounts to keep users' money. Specifically, they work with Barclays Bank PLC who guarantees the funds of individuals according to the regulations of the financial authority of the United Kingdom, FCA.

When the time comes to make withdrawals or income of money, security is still guaranteed, since all transfers are encrypted using 256-bit Secure Socket Layer technology, commonly known by users as SSL. In addition, as a complement to all this they have the identity guarantee seal True-Site and the AICPA WebTrust . Finally, it should be noted that to make sure that no one withdraws funds from your account committing fraud, before proceeding to withdraw the money they will ask you to send them a hand-signed document, which is available on their website, and also they will only admit withdrawals to accounts in which you are the only holder. This way no one will be able to withdraw your funds.

XTrade offer

The offer of CFDs that you have access to when trading with this platform is quite complete, and it really seems to us enough to satisfy most users, because you can invest in stocks, currencies or Forex, commodities and indices and there is a good diversity in all of them. The registration process is very simple and will take you no more than a few minutes. Finally, we do not want to go without mentioning the educational offer, since through its website you can attend some live webinars or make video tutorials, although the truth is that the latter are too superficial. The same goes for what they call the library, it has interesting documents, but maybe they should dig a little deeper. In any case, they are one more resource that can be easily consulted when needed.

CFDs

In the section of the actuate you will find CFDs on the main stocks of USA, France, United Kingdom, Italy, Australia, New Zealand, Japan, Russia, Hungary, Hong Kong, China, South Africa, Brazil, Sweden, Norway, Germany, Finland, Netherlands, Denmark, Switzerland, Poland and, of course, New Zealand , of which you will find shares of 17 different companies. In CFDs on currency pairs o Forex you can choose from more than 50 of them, including the cryptocurrency Bitcoin and, logically also the most popular among investors. You will also find more than 17 raw materials which is a much more generous offer than that of most brokers. You will also find more than 45 indexes this is a great opportunity for risk management and diversification.

Offers and bonuses

Currently, due to the intensification of the requirements and demands of the CySEC regarding the ways of promoting themselves that brokers can carry out, this company has decided to withdraw its welcome bonus and the rest of the promotions. However, it is not something that should turn you back because the investment offer is really good and after all that is what is really important when choosing.

Throughout the online broker market, bonuses were giving transparency problems and many complaints from users who did not understand their terms and conditions. That is why most of the most serious binary options brokers, and especially those regulated by the CySEC have chosen to stop offering these promotions.

Demo account

Users who prefer to test the platform without risking a single real dollar, can do so using the demo account that will allow them to test the main functionalities calmly and without pressure. As always, since Estafa.info we recommend always trying the brokers with the demo account, as one can thus easily discover which one he feels most comfortable with and which one he understands best to make a decision when the time comes to trade with real money. It is also a valid option to test investment strategies about whose results we are not very sure.

Payment methods

The payment methods cover most of the most popular options for New Zealand investors including PayPal which is usually one of the big absents among the online brokers , despite how widely used it is in New Zealand. Other accepted methods are Visa, MasterCard, American Express, bank transfer, CashU, Halcash, Neosurf, Neteller, Paysafecard, Skrill and Teleingreso. To withdraw the money, the easiest thing is to do it with the same method that was used to enter. To avoid scams, they will ask you to fill out a withdrawal form that you must print, sign by hand and send to the email address [email protected] or to fax +44-203-0516306.

Safety and regulations at XTrade

Next we will see what regulations this company follows that serve as a guarantee that it is not a scam. Being registered with the CySEC, the company must follow the Cypriot financial rules, in particular Law 144(I)/2007 on Regulated markets, which obliges it to be part of the investment compensation fund that would cover the clients' funds in the event of insolvencies on the part of the company in up to $ 20,000. But the security guarantees of the fact of registration in Cyprus do not stop there. Being a member of the Dollarpea Union, any financial company registered in this country must comply with the rules of the dollarpea directive MiFID , which guarantee adequate levels of transparency and security for investors. In addition, also it is registered with the following financial authorities dollarpeas : Financial services Authority (FSA) of the United Kingdom; Banque de France of France, Commissione Nazionale per le Società e la Borsa (CONSOB) of Italy, where they have a registered branch at the address 22, Via Conservatorio, Business Center, 20100 Milan; Finanstilsynet of Denmark, PFSA of Poland; Finansinspektionen of Sweden; AFM of the Netherlands; FSMA of Belgium; Finanzmarktes Liechtenstein of Liechtenstein; Commission of the Surveillance du SectNZD Financier from Luxembourg; NBS from Slovakia; LSC from Lithuania, SMA from Slovenia, Finantsinspektsioon from Estonia; FSC from Bulgaria; CNB from the Czech Republic; CMVM from Portugal; FMA from Austria, MNB and, also the CNMV New Zealand since July 2010, with the registration number 2640.

Customer service

The customer service in New Zealand will be at your disposal the 24 hours a day the five days of daily and you can contact them, by phone at the number 34 937379413, by email at [email protected] , or by live chat, which you can also communicate with even if you are not registered by giving them an email account and a phone number. In our experience, they dealt with us quickly clearly and quite patiently.

Functionality of the website

We can confirm that it can be operated perfectly through the web, without the need to make any type of download. The stability of the connection has been perfect at all times and the ease of use is also appreciated. When we proceed to make an investment we can set profit and loss limits , in order to be able to perfectly adjust the risks we want to take. The navigation on the platform is good and can be operated quickly. As for the design of the website, it may not be the most important thing, but the website gives a good image with black, white and blue and a careful aesthetic.

XTrade mobile app

One of the strengths of financial investing is that it can be done from almost anywhere. Whether from your home in a quiet room, such as from a cafe, a park or anywhere you have a good internet connection, CFDs are not going to require you to wear a tie and put on a suit. But of course, transporting the computer to all places can be uncomfortable. Even sometimes investment opportunities arise because of unexpected news, which comes when we are away from the laptop. That is why being able to invest through a mobile app is a fundamental service. And in this case it is well covered. Users who want to invest from mobile devices will be able to do so thanks to the apps available for iPhone, iPad, Android and Windows Phone devices. The apps work perfectly and there are no crashes or disconnections, considering that when one is going to trade CFDs you should always do it with strong connections .

Finding

A good broker to invest in CFDs, with a fairly wide range of underlying assets. With regard to security, it only remains for us to ensure that XTrade is not a scam , and is up to date with the requirements of the Dollarpea Union regarding financial investment. In addition, we like the fact that it accepts PayPal, since it is a payment method highly requested by users and ignored by many brokers. The demo account is a good opportunity to test their platform both in the web service and in the mobile app that is suitable for your device.